Anti-Money Laundering Authority (AMLA) chair Bruna Szego, visited Cyprus on Thursday, as part of her tour across European Union member states to enhance coordination between AMLA and National Competent Authorities (NCAs).

The goal of the visit was to build a European community against money laundering by strengthening the coordination between AMLA and the NCAs.

According to an announcement by the Central Bank of Cyprus (CBC), the visit took place at the CBC headquarters.

Szego held a private meeting with Kleanthi Ioannidis, Cyprus’ permanent joint representative on AMLA’s General Council.

She also met with the CBC Senior Management, specifically Executive Board Member George Karatzias and Head of the Directorate for Financial Stability and Resolution Pani Karamanou.

Szego then chaired two round-table discussions.

The first discussion included representatives from all National Competent Authorities in both the financial and non-financial sectors, including the Financial Intelligence Unit.

The second discussion was attended by representatives from the associations of obliged entities licensed in Cyprus.

During these discussions, Szego asked attendees to share their views on the opportunities and challenges arising from the new approach being implemented in the anti-money laundering sector.

She also presented AMLA’s short-term and long-term priorities.

The discussions also covered issues regarding the harmonisation of supervision and the challenges faced by the NCAs.

In a statement provided by the CBC, Szego underscored the importance of face-to-face meetings with member state representatives on the Authority’s General Council, as well as with representatives of the NCAs and associations of obliged entities.

“Cooperation and coordination are of critical importance, in order for us as a community to succeed in our mission,” she noted.

For his part, Ioannidis reportedly assured the AMLA Chair of the commitment of all Cyprus’ NCAs and the Financial Intelligence Unit to contributing to the achievement of the Authority’s objectives.

AMLA was officially established following the approval of the legislative package on combating money laundering and terrorist financing in May 2024.

The Authority began its operation on July 1, 2025, with its seat in Frankfurt.

When fully operational on January 1, 2028, AMLA will take over the direct supervision of 40 financial obliged entities.

These entities will be selected during 2027 based on criteria currently under discussion.

The selection of obliged entities will be based on objective criteria related to significant cross-border activity and risk categorisation, applying a methodology currently being developed by AMLA.

The Authority will also exercise indirect supervision over the remaining entities in the financial and non-financial sectors.

Finally, AMLA will strengthen cooperation with national financial intelligence units, the announcement concluded.